BUD (ASX) Ann: Update on Dispute with CST

Originally posted by estoril: ↑

Probably not fair. Be interesting to find out how lawyers and judges see it.
My understanding is that it’s a requirement to have a registered mailing address and not clearing the mail doesn’t get you out of any liabilities.
Lawyers will probably have a little fight, clock up some fees and then settle out of court.

I can’t help wondering if BUD overlooks the basic task of not clearing their letterbox, what else are they overlooking.

It does show how the Company is run and how money is wasted, while bragging about savings they are making at every presentation.

Having said that BUD is learning and will eventually get there, probably next year sparing any other dramas. Leave it any longer and the Competition will have caught up and close the window of opportunity.

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"Having said that BUD is learning and will eventually get there, probably next year sparing any other dramas"

But for how long will shareholders cop the incompetence.

David McLauchlin has been CEO for how long now? - listed almost 5 years ago
Draws a wage of how much? $324,000 (last year)
Gifted how many shares? - Current holding as at annual report date 136,000,000, yes 136 Million or >$7million worth)
Presided over a share price slide from 40c to 5.6c while withdrawing multiple millions in share sales.

Seems to be a comparatively high remuneration for the mail boy, especially one who can't even do that competently.

They sell very expensive lightbulbs (I even bought a couple for my daughter's room - she was horrified I would spend $200 on two lights - the colour function to her is a gimmick that has worn off after once trialling it - she just wants the light on or off).

I get it that people say it was vexatious of CST to do what it did. However the court can (may even be compelled to) find in favour of CST if CST can successfully argue it acted in line with the written law in delivery of the claim to the registered address.

Don't know where that leaves BUD in terms of the claim itself. All I know is it's more cash in the toilet sorting it out all because we didn't collect the mail.

My point is that 5 years is too long for the training wheels to be on - if a first grade footballer dropped this much ball he'd be shaking hands with the reserve grade coach next week.